Adidas shares get a lift from London Marathon winners
By Hanna Ziady, CNN
London (CNN) — Shares in Adidas climbed Monday, after Kenya’s Sabastian Sawe set a new world record in the London Marathon on Sunday while wearing the German sportswear maker’s newest running shoe.
Adidas gained nearly 2% in the early afternoon in Frankfurt, before paring gains to trade 1.4% higher at €138 ($162) a share. The stock is down more than 18% this year, however, as the brand contends with US tariffs and fewer sales in its Middle East stores, alongside an intensely competitive sportswear market.
Sawe became the first man to run a marathon in under two hours in an official race, setting a new record of 1:59.30. Yomif Kejelcha from Ethiopia finished shortly behind him, with a time of 1:59.41. Meanwhile, fellow Ethiopian Tigist Assefa set a women-only world record of 2:15.41.
All three were wearing the new adidas Adizero Adios Pro Evo 3 shoe, the lightest shoe in the brand’s Adizero range, weighing an average 97 grams. The shoes, which launched with a limited release on April 23, cost $500 a pair, according to the company’s website.
The London Marathon results are important for Adidas, “given the visibility and popularity of running,” Adam Cochrane, an analyst at Deutsche Bank told CNN. “For Adidas, this provides an important milestone for a successful rebuild of their running franchise.”
The marathon results deliver Adidas a victory over rival Nike after several difficult years for the company, which suffered financial losses following a failed collaboration with Kanye West, who changed his name to Ye.
The more recent success of the brand’s Samba and Gazelle sneakers has helped it move beyond that debacle in the minds of consumers, but the marathon “will cement the sporting credibility of Adidas in an important and growing category,” according to Deutsche Bank’s Cochrane.
“The London Marathon wins highlight the research and development work put in by Adidas over a number of years,” he said. “The key will be taking the marketing boost… and transferring this into customer demand amongst club and casual runners.”
Sawe’s London Marathon time shatters the previous world record, held by the late Kenyan athlete Kelvin Kiptum, who finished the Chicago Marathon in 2:00:35 in 2023.
In 2019, Eliud Kipchoge, also from Kenya but wearing Nike trainers, became the first man to run a marathon in under two hours. However, his time did not count as an official record, as the race was held under controlled conditions.
“The adidas family is incredibly proud of Sabastian and Tigist’s historic achievements, marking the fastest times humans have ever run in a marathon,” Patrick Nava, general manager at Adidas Running said in a statement. “This is a testament to the years of hard work and dedication they have made, alongside our innovation team,” he added.
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CNN’s Sophie Tanno contributed to this report.
